Ask Question
30 March, 03:35

Assets and liabilities of a company are $150,000 and $30,000, respectively. Determine owner's equity using the accounting equation.

+1
Answers (1)
  1. 30 March, 07:11
    0
    Owner's Equity = $ 150,000 - $ 30,000 = $ 120,000

    Explanation:

    The accounting equation is Assets = Liabilities + Owner's Equity

    $ 150,000 = $ 30,000 + Owner's Equity

    Owner's Equity = $ 150,000 - $ 30,000 = $ 120,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Assets and liabilities of a company are $150,000 and $30,000, respectively. Determine owner's equity using the accounting equation. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers